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Cemetery Perpetual Care Trust Investments and Obligation and Restricted Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] |
Schedule of Investments | The Company’s investments as of December 31, 2022 are summarized as follows: Schedule of Investments
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
December 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available for sale, at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | 93,182,210 |  |  | $ | 180,643 |  |  | $ | (2,685,277 | ) |  | $ | 90,677,576 |
Obligations of states and political subdivisions |  |  | 6,675,071 |  |  |  | 13,869 |  |  |  | (458,137 | ) |  |  | 6,230,803 |
Corporate securities including public utilities |  |  | 229,141,544 |  |  |  | 1,909,630 |  |  |  | (11,930,773 | ) |  |  | 219,120,401 |
Mortgage-backed securities |  |  | 33,501,686 |  |  |  | 168,700 |  |  |  | (4,100,674 | ) |  |  | 29,569,712 |
Redeemable preferred stock |  |  | 250,000 |  |  |  | 10,000 |  |  |  | - |  |  |  | 260,000 |
Total fixed maturity securities available for sale |  | $ | 362,750,511 |  |  | $ | 2,282,842 |  |  | $ | (19,174,861 | ) |  | $ | 345,858,492 |
Equity securities at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ | 9,942,265 |  |  | $ | 2,688,375 |  |  | $ | (948,114 | ) |  | $ | 11,682,526 |
Total equity securities at estimated fair value |  | $ | 9,942,265 |  |  | $ | 2,688,375 |  |  | $ | (948,114 | ) |  | $ | 11,682,526 |
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 93,355,623 |  |  |  |  |  |  |  |  |  |  |  |  |
Residential construction |  |  | 172,516,125 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 46,311,955 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Unamortized deferred loan fees, net |  |  | (1,746,605 | ) |  |  |  |  |  |  |  |  |  |  |  |
Less: Allowance for loan losses |  |  | (1,970,311 | ) |  |  |  |  |  |  |  |  |  |  |  |
Less: Net discounts |  |  | (342,860 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total mortgage loans held for investment |  | $ | 308,123,927 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for investment - net of accumulated depreciation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 38,437,960 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 152,890,656 |  |  |  |  |  |  |  |  |  |  |  |  |
Total real estate held for investment |  | $ | 191,328,616 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 11,010,029 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 151,553 |  |  |  |  |  |  |  |  |  |  |  |  |
Total real estate held for sale |  | $ | 11,161,582 |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments and policy loans at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Policy loans |  | $ | 13,095,473 |  |  |  |  |  |  |  |  |  |  |  |  |
Insurance assignments |  |  | 46,942,536 |  |  |  |  |  |  |  |  |  |  |  |  |
Federal Home Loan Bank stock (1) |  |  | 2,600,300 |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments |  |  | 9,479,798 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Allowance for doubtful accounts |  |  | (1,609,951 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total policy loans and other investments |  | $ | 70,508,156 |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued investment income |  | $ | 10,299,826 |  |  |  |  |  |  |  |  |  |  |  |  |
Total investments |  | $ | 948,963,125 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) |  | Includes $938,500 of Membership stock and $1,661,800 of Activity stock due to short-term advances and letters of credit.
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements Years Ended December 31, 2022 and 2021 2) Investments (Continued) The Company’s investments as of December 31, 2021 are summarized as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available for sale, at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | 22,307,736 |  |  | $ | 578,567 |  |  | $ | - |  |  | $ | 22,886,303 |
Obligations of states and political subdivisions |  |  | 4,649,917 |  |  |  | 212,803 |  |  |  | (1,989 | ) |  |  | 4,860,731 |
Corporate securities including public utilities |  |  | 174,711,061 |  |  |  | 21,791,370 |  |  |  | (353,668 | ) |  |  | 196,148,763 |
Mortgage-backed securities |  |  | 34,365,382 |  |  |  | 905,159 |  |  |  | (161,332 | ) |  |  | 35,109,209 |
Redeemable preferred stock |  |  | 269,214 |  |  |  | 13,383 |  |  |  | - |  |  |  | 282,597 |
Total fixed maturity securities available for sale |  | $ | 236,303,310 |  |  | $ | 23,501,282 |  |  | $ | (516,989 | ) |  | $ | 259,287,603 |
Equity securities at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ | 8,275,772 |  |  | $ | 3,626,444 |  |  | $ | (305,802 | ) |  | $ | 11,596,414 |
Total equity securities at estimated fair value |  | $ | 8,275,772 |  |  | $ | 3,626,444 |  |  | $ | (305,802 | ) |  | $ | 11,596,414 |
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 53,533,712 |  |  |  |  |  |  |  |  |  |  |  |  |
Residential construction |  |  | 175,117,783 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 51,683,022 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Unamortized deferred loan fees, net |  |  | (918,586 | ) |  |  |  |  |  |  |  |  |  |  |  |
Less: Allowance for loan losses |  |  | (1,699,902 | ) |  |  |  |  |  |  |  |  |  |  |  |
Less: Net discounts |  |  | (409,983 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total mortgage loans held for investment |  | $ | 277,306,046 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for investment - net of accumulated depreciation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 41,972,462 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 155,393,335 |  |  |  |  |  |  |  |  |  |  |  |  |
Total real estate held for investment |  | $ | 197,365,797 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 1,190,602 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 2,540,698 |  |  |  |  |  |  |  |  |  |  |  |  |
Total real estate held for sale |  | $ | 3,731,300 |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments and policy loans at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Policy loans |  | $ | 13,478,214 |  |  |  |  |  |  |  |  |  |  |  |  |
Insurance assignments |  |  | 48,632,808 |  |  |  |  |  |  |  |  |  |  |  |  |
Federal Home Loan Bank stock (1) |  |  | 2,547,100 |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments |  |  | 4,983,251 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Allowance for doubtful accounts |  |  | (1,686,218 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total policy loans and other investments |  | $ | 67,955,155 |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued investment income |  | $ | 6,313,012 |  |  |  |  |  |  |  |  |  |  |  |  |
Total investments |  | $ | 823,555,327 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) |  | Includes $905,700 of Membership stock and $1,641,400 of Activity stock due to short-term advances and letters of credit.
Schedule of Fair Value of Fixed Maturity Securities | The following table summarizes unrealized losses on fixed maturities securities available for sale that were carried at estimated fair value at December 31, 2022 and at December 31, 2021. The unrealized losses were primarily related to interest rate fluctuations and inflation. The tables set forth unrealized losses by duration with the fair value of the related fixed maturity securities: Schedule of Fair Value of Fixed Maturity Securities
|  | Unrealized Losses for Less than Twelve Months |  |  | Fair Value |  |  | Unrealized Losses for More than Twelve Months |  |  | Fair Value |  |  | Total Unrealized Loss |  |  | Fair Value |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | 2,685,277 |  |  | $ | 79,400,753 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,685,277 |  |  | $ | 79,400,753 |
Obligations of States and Political Subdivisions |  |  | 378,067 |  |  |  | 5,467,910 |  |  |  | 80,070 |  |  |  | 429,020 |  |  |  | 458,137 |  |  |  | 5,896,930 |
Corporate Securities |  |  | 10,935,114 |  |  |  | 162,995,969 |  |  |  | 995,659 |  |  |  | 5,781,822 |  |  |  | 11,930,773 |  |  |  | 168,777,791 |
Mortgage and other asset-backed securities |  |  | 2,884,731 |  |  |  | 19,909,907 |  |  |  | 1,215,943 |  |  |  | 6,978,745 |  |  |  | 4,100,674 |  |  |  | 26,888,652 |
Total unrealized losses |  | $ | 16,883,189 |  |  | $ | 267,774,539 |  |  | $ | 2,291,672 |  |  | $ | 13,189,587 |  |  | $ | 19,174,861 |  |  | $ | 280,964,126 |
At December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of States and Political Subdivisions |  | $ | 1,989 |  |  | $ | 548,715 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,989 |  |  | $ | 548,715 |
Corporate Securities |  |  | 73,507 |  |  |  | 4,638,750 |  |  |  | 280,161 |  |  |  | 3,771,813 |  |  |  | 353,668 |  |  |  | 8,410,563 |
Mortgage and other asset-backed securities |  |  | 72,952 |  |  |  | 7,934,760 |  |  |  | 88,380 |  |  |  | 1,582,804 |  |  |  | 161,332 |  |  |  | 9,517,564 |
Total unrealized losses |  | $ | 148,448 |  |  | $ | 13,122,225 |  |  | $ | 368,541 |  |  | $ | 5,354,617 |  |  | $ | 516,989 |  |  | $ | 18,476,842 |
Schedule of Investments Classified by Contractual Maturity Date | The following table presents the amortized cost and estimated fair value of fixed maturity securities available for sale at December 31, 2022, by contractual maturity. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Schedule of Investments Classified by Contractual Maturity Date
|  | Amortized Cost |  |  | Estimated Fair Value |
Due in 1 year |  | $ | - |  |  | $ | - |
Due in 2-5 years |  |  | 139,431,212 |  |  |  | 135,093,083 |
Due in 5-10 years |  |  | 87,552,213 |  |  |  | 84,011,366 |
Due in more than 10 years |  |  | 102,015,400 |  |  |  | 96,924,331 |
Mortgage-backed securities |  |  | 33,501,686 |  |  |  | 29,569,712 |
Redeemable preferred stock |  |  | 250,000 |  |  |  | 260,000 |
Total |  | $ | 362,750,511 |  |  | $ | 345,858,492 |
Restricted Assets [Member] |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] |
Schedule of Fair Value of Fixed Maturity Securities | The following tables summarize unrealized losses on fixed maturities securities that were carried at estimated fair value at December 31, 2022 and at December 31, 2021. The unrealized losses were primarily related to interest rate fluctuations and inflation. The tables set forth unrealized losses by duration with the fair value of the related fixed maturity securities: Schedule of Fair Value of Fixed Maturity Securities
|  | Unrealized Losses for Less than Twelve Months |  |  | Fair Value |  |  | Unrealized Losses for More than Twelve Months |  |  | Fair Value |  |  | Total Unrealized Loss |  |  | Fair Value |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 11,891 |  |  | $ | 760,255 |  |  | $ | 3,469 |  |  | $ | 58,072 |  |  | $ | 15,360 |  |  | $ | 818,327 |
Corporate securities including public utilities |  |  | 3,016 |  |  |  | 198,755 |  |  |  | - |  |  |  | - |  |  |  | 3,016 |  |  |  | 198,755 |
Total unrealized losses |  | $ | 14,907 |  |  | $ | 959,010 |  |  | $ | 3,469 |  |  | $ | 58,072 |  |  | $ | 18,376 |  |  | $ | 1,017,082 |
At December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 309 |  |  | $ | 114,208 |  |  | $ | - |  |  | $ | - |  |  | $ | 309 |  |  | $ | 114,208 |
Corporate securities including public utilities |  |  | 1,761 |  |  |  | 232,239 |  |  |  | - |  |  |  | - |  |  |  | 1,761 |  |  |  | 232,239 |
Total unrealized losses |  | $ | 2,070 |  |  | $ | 346,447 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,070 |  |  | $ | 346,447 |
Schedule of Investments Classified by Contractual Maturity Date | The following table presents the amortized cost and estimated fair value of fixed maturity securities available for sale at December 31, 2022, by contractual maturity. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Schedule of Investments Classified by Contractual Maturity Date
|  | Amortized |  |  | Estimated Fair |
|  | Cost |  |  | Value |
Due in 1 year |  | $ | - |  |  | $ | - |
Due in 2-5 years |  |  | 320,972 |  |  |  | 312,708 |
Due in 5-10 years |  |  | 153,284 |  |  |  | 152,191 |
Due in more than 10 years |  |  | 760,562 |  |  |  | 752,409 |
Total |  | $ | 1,234,818 |  |  | $ | 1,217,308 |
Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds | Restricted assets as of December 31, 2022 are summarized as follows: Schedule of Restricted Assets in Cemetery and Mortuary Endowment Care and Pre need Merchandise Funds
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
December 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available for sale, at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 1,033,047 |  |  | $ | 866 |  |  | $ | (15,360 | ) |  | $ | 1,018,553 |
Corporate securities including public utilities |  |  | 201,771 |  |  |  | - |  |  |  | (3,016 | ) |  |  | 198,755 |
Total fixed maturity securities available for sale |  | $ | 1,234,818 |  |  | $ | 866 |  |  | $ | (18,376 | ) |  | $ | 1,217,308 |
Equity securities at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ | 4,955,360 |  |  | $ | 703,049 |  |  | $ | (310,165 | ) |  | $ | 5,348,244 |
Total equity securities at estimated fair value |  | $ | 4,955,360 |  |  | $ | 703,049 |  |  | $ | (310,165 | ) |  | $ | 5,348,244 |
Mortgage loans held for investment at amortized cost: Residential construction |  | $ | 1,731,469 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents (1) |  | $ | 10,638,034 |  |  |  |  |  |  |  |  |  |  |  |  |
Total restricted assets |  | $ | 18,935,055 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) |  | Including cash and cash equivalents of $8,527,620 for the life insurance and mortgage segments.
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements Years Ended December 31, 2022 and 2021 8) Cemetery Perpetual Care Trust Investments and Obligation and Restricted Assets (Continued) Restricted assets as of December 31, 2021 are summarized as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available for sale, at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 1,058,449 |  |  | $ | 42,456 |  |  | $ | (309 | ) |  | $ | 1,100,596 |
Corporate securities including public utilities |  |  | 489,714 |  |  |  | 13,139 |  |  |  | (1,761 | ) |  |  | 501,092 |
Total fixed maturity securities available for sale |  | $ | 1,548,163 |  |  | $ | 55,595 |  |  | $ | (2,070 | ) |  | $ | 1,601,688 |
Equity securities at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ | 2,781,041 |  |  | $ | 852,443 |  |  | $ | (29,662 | ) |  | $ | 3,603,822 |
Total equity securities at estimated fair value |  | $ | 2,781,041 |  |  | $ | 852,443 |  |  | $ | (29,662 | ) |  | $ | 3,603,822 |
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential construction |  | $ | 2,732,319 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents (1) |  | $ | 9,000,293 |  |  |  |  |  |  |  |  |  |  |  |  |
Total restricted assets |  | $ | 16,938,122 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) |  | Including cash and cash equivalents of $7,869,295 for the life insurance and mortgage segments.
Cemetery Perpectual Care Oblication [Member] |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] |
Schedule of Investments | The components of the cemetery perpetual care investments and obligation as of December 31, 2022 are as follows: Schedule of Investments
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
December 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available for sale, at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | 89,004 |  |  | $ | 42 |  |  | $ | (38 | ) |  | $ | 89,008 |
Obligations of states and political subdivisions |  |  | 174,201 |  |  |  | - |  |  |  | (8,478 | ) |  |  | 165,723 |
Total fixed maturity securities available for sale |  | $ | 263,205 |  |  | $ | 42 |  |  | $ | (8,516 | ) |  | $ | 254,731 |
Equity securities at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ | 3,195,942 |  |  | $ | 584,383 |  |  | $ | (175,163 | ) |  | $ | 3,605,162 |
Total equity securities at estimated fair value |  | $ | 3,195,942 |  |  | $ | 584,383 |  |  | $ | (175,163 | ) |  | $ | 3,605,162 |
Mortgage loans held for investment at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential construction |  | $ | 1,506,517 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for investment: Residential |  | $ | (16,178 | ) |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,925,978 |  |  |  |  |  |  |  |  |  |  |  |  |
Total cemetery perpetual care trust investments |  | $ | 7,276,210 |  |  |  |  |  |  |  |  |  |  |  |  |
Cemetery perpetual care obligation |  | $ | (5,099,542 | ) |  |  |  |  |  |  |  |  |  |  |  |
Trust investments in excess of trust obligations |  | $ | 2,176,668 |  |  |  |  |  |  |  |  |  |  |  |  |
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements Years Ended December 31, 2022 and 2021 8) Cemetery Perpetual Care Trust Investments and Obligation and Restricted Assets (Continued) The components of the cemetery perpetual care investments and obligation as of December 31, 2021 are as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed maturity securities, available for sale, at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 280,023 |  |  | $ | 4,872 |  |  | $ | (928 | ) |  | $ | 283,967 |
Corporate securities including public utilities |  |  | 492,770 |  |  |  | 8,028 |  |  |  | - |  |  |  | 500,798 |
Total fixed maturity securities available for sale |  | $ | 772,793 |  |  | $ | 12,900 |  |  | $ | (928 | ) |  | $ | 784,765 |
Equity securities at estimated fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Industrial, miscellaneous and all other |  | $ | 2,597,745 |  |  | $ | 737,696 |  |  | $ | (32,961 | ) |  | $ | 3,302,480 |
Total equity securities at estimated fair value |  | $ | 2,597,745 |  |  | $ | 737,696 |  |  | $ | (32,961 | ) |  | $ | 3,302,480 |
Mortgage loans held for investment at amortized cost: Residential construction |  | $ | 1,823,533 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate held for investment: Residential |  | $ | 865,424 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,059,519 |  |  |  |  |  |  |  |  |  |  |  |  |
Total cemetery perpetual care trust investments |  | $ | 7,835,721 |  |  |  |  |  |  |  |  |  |  |  |  |
Cemetery perpetual care obligation |  | $ | (4,915,285 | ) |  |  |  |  |  |  |  |  |  |  |  |
Trust investments in excess of trust obligations |  | $ | 2,920,436 |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Fair Value of Fixed Maturity Securities | The following tables summarize unrealized losses on fixed maturities securities that were carried at estimated fair value at December 31, 2022 and at December 31, 2021. The unrealized losses were primarily related to interest rate fluctuations and inflation. The tables set forth unrealized losses by duration with the fair value of the related fixed maturity securities: Schedule of Fair Value of Fixed Maturity Securities
|  | Unrealized Losses for Less than Twelve Months |  |  | Fair Value |  |  | Unrealized Losses for More than Twelve Months |  |  | Fair Value |  |  | Total Unrealized Loss |  |  | Fair Value |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | 38 |  |  | $ | 59,392 |  |  | $ | - |  |  | $ | - |  |  | $ | 38 |  |  | $ | 59,392 |
Obligations of states and political subdivisions |  |  | 1,845 |  |  |  | 94,612 |  |  |  | 6,633 |  |  |  | 71,112 |  |  |  | 8,478 |  |  |  | 165,724 |
Total unrealized losses |  | $ | 1,883 |  |  | $ | 154,004 |  |  | $ | 6,633 |  |  | $ | 71,112 |  |  | $ | 8,516 |  |  | $ | 225,116 |
At December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 928 |  |  | $ | 105,060 |  |  | $ | - |  |  | $ | - |  |  | $ | 928 |  |  | $ | 105,060 |
Total unrealized losses |  | $ | 928 |  |  | $ | 105,060 |  |  | $ | - |  |  | $ | - |  |  | $ | 928 |  |  | $ | 105,060 |
Schedule of Investments Classified by Contractual Maturity Date | The following table presents the amortized cost and estimated fair value of fixed maturity securities available for sale at December 31, 2022, by contractual maturity. Expected maturities may differ from contractual maturities because certain borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Schedule of Investments Classified by Contractual Maturity Date
|  | Amortized |  |  | Estimated Fair |
|  | Cost |  |  | Value |
Due in 1 year |  | $ | 89,004 |  |  | $ | 89,008 |
Due in 2-5 years |  |  | 77,745 |  |  |  | 71,112 |
Due in 5-10 years |  |  | 41,621 |  |  |  | 40,816 |
Due in more than 10 years |  |  | 54,835 |  |  |  | 53,795 |
Total |  | $ | 263,205 |  |  | $ | 254,731 |

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